Korea Southern Power and Ulsan City have signed a business development agreement to build clean hydrogen power plants, investing a total of won 600bn (approximately USD 450M) in the project. The 135MW facility, set for construction by 2029, will be fully operational using 100% hydrogen and no carbon emissions.
The business agreement states that Southern Power will first hire Ulsan citizens when it hires the manpower necessary to promote the project, and Ulsan City will provide administrative support such as rapid licensing.
Southern Power will build a 135MW clean hydrogen plant on the site of the National Industrial Complex Cospo Youngnam Power. This power plant is an eco-friendly power plant that generates electricity by running a turbine with 100% hydrogen without any carbon emissions.
Southern Power will invest won 600bn (approximately USD 450M) in total construction costs. Construction will begin in 2029 and will be completed in 2031.